Speaking at a Global Investment Summit alongside U.K. Prime Minister Boris Johnson, Bill Gates said investment was needed to further develop new technologies that were currently too expensive for the consumer market.
BP CEO Bernard Looney said investment in natural gas is needed, which "remains a great balancer" in the energy system.
As the energy sector transitions toward a low-carbon future, oil and gas companies are adopting wide-ranging approaches to sustainable energy production, according to David Linden, head of energy transition at Westwood Global Energy Group.
Sultan al-Jaber also said the world will continue to need fossil fuels despite the transition to cleaner energy sources.
The world will need more energy and the responsible North American energy industry can provide it while lowering emissions, Quantum Energy Partners’ CEO S. Wil VanLoh says.
The initiative, which includes Amazon, IKEA, among other commercial users of container shipping, sets a goal for companies to only purchase ocean freight services powered by scalable zero-carbon fuels by 2040.
British Prime Minister Boris Johnson presented his net-zero strategy on Oct. 19 that aims to secure 440,000 jobs and unlock $124 billion of private investment by 2030.
While a majority said they would stay focused on core oil and gas business, most executives are mapping out near-term decarbonization strategies, a recent study says.
Find out why traditional valuation methodologies may not be appropriate for new technologies and/or early-stage private equity energy investments.
The idea of financing the energy transition seems daunting to some industry members, but the solution might not be as bleak as it seems.